PhD or employment for Physics undergrad?

I'm studying Physics at Oxford (international student) and am having a hard time considering my career options. I don't currently want to go into academia and quant jobs interest me a lot (mostly because of the pay). My question is, should I take a physics PhD before I find a job? I understand that PhDs generally get a higher pay but is the premium worth it compared to 3-4 years of work experience straight after masters?

I'm considering 3 possible paths:

1. Quant jobs after integrated master.

2. PhD first then quant.

3. PhD then a research scientist position in tech firms.

Which of them is more favourable in terms of average/median pay and WLB?

I understand my qn is pretty vague but would really appreciate your help!

3 Comments
 

Consectetur et delectus minima ut nobis. Quidem ut voluptas aut quibusdam. Quis porro illo quia maxime est libero debitis.

Dignissimos eos consectetur et non sed consequatur. Dicta dolores quia provident eligendi eos. Sed aut dolores eos corrupti voluptatem sequi molestias assumenda. Officiis nihil iusto omnis quibusdam modi vel.

Ab sed et beatae assumenda. Dolor eveniet qui dolor dolores consequatur. Quaerat sit sed non dolorum. Et qui quo distinctio molestiae sunt.

Career Advancement Opportunities

June 2026 Investment Banking

  • Evercore 01 99.4%
  • Moelis & Company 01 98.8%
  • JPMorgan 01 98.2%
  • Guggenheim Partners 01 97.7%
  • Morgan Stanley 07 97.1%

Overall Employee Satisfaction

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Morgan Stanley 01 98.8%
  • Evercore 01 98.2%
  • BMO Capital Markets 12 97.6%
  • Banco Santander 01 97.1%

Professional Growth Opportunities

June 2026 Investment Banking

  • Moelis & Company No 99.4%
  • Evercore No 98.8%
  • Morgan Stanley 05 98.2%
  • JPMorgan No 97.7%
  • BMO Capital Markets 12 97.1%

Total Avg Compensation

June 2026 Investment Banking

  • Vice President (14) $434
  • Associates (43) $259
  • 3rd+ Year Analyst (8) $210
  • 2nd Year Analyst (22) $179
  • Intern/Summer Associate (13) $156
  • 1st Year Analyst (75) $151
  • Intern/Summer Analyst (66) $101
notes
16 IB Interviews Notes

“... there’s no excuse to not take advantage of the resources out there available to you. Best value for your $ are the...”

Leaderboard

success
From 10 rejections to 1 dream investment banking internship

“... I believe it was the single biggest reason why I ended up with an offer...”